Alaska Permanent Fund Corp Cuts Stock Position in Advance Auto Parts, Inc. (NYSE:AAP)

Alaska Permanent Fund Corp decreased its holdings in shares of Advance Auto Parts, Inc. (NYSE:AAP) by 60.0% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 12,232 shares of the company’s stock after selling 18,352 shares during the period. Alaska Permanent Fund Corp’s holdings in Advance Auto Parts were worth $1,041,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of AAP. Federated Hermes Inc. grew its stake in shares of Advance Auto Parts by 2,716,800.0% during the fourth quarter. Federated Hermes Inc. now owns 842,239 shares of the company’s stock worth $51,402,000 after acquiring an additional 842,208 shares during the last quarter. UBS Group AG grew its stake in shares of Advance Auto Parts by 337.7% during the fourth quarter. UBS Group AG now owns 811,734 shares of the company’s stock worth $49,540,000 after acquiring an additional 626,294 shares during the last quarter. Norges Bank purchased a new stake in shares of Advance Auto Parts during the fourth quarter worth about $37,522,000. Jacobs Levy Equity Management Inc. grew its stake in shares of Advance Auto Parts by 94.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 931,125 shares of the company’s stock worth $52,078,000 after acquiring an additional 452,488 shares during the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in shares of Advance Auto Parts during the third quarter worth about $11,410,000. Hedge funds and other institutional investors own 88.75% of the company’s stock.

Advance Auto Parts Trading Down 0.6 %

Shares of AAP stock opened at $65.73 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.22 and a quick ratio of 0.29. The company has a market cap of $3.92 billion, a price-to-earnings ratio of 95.26, a PEG ratio of 1.23 and a beta of 1.20. The stock has a 50 day simple moving average of $70.76 and a 200-day simple moving average of $69.04. Advance Auto Parts, Inc. has a 1-year low of $47.73 and a 1-year high of $88.56.

Advance Auto Parts (NYSE:AAP) last announced its earnings results on Wednesday, May 29th. The company reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.02). The business had revenue of $3.41 billion for the quarter, compared to analyst estimates of $3.43 billion. Advance Auto Parts had a return on equity of 1.59% and a net margin of 0.37%. The company’s quarterly revenue was down .3% compared to the same quarter last year. During the same period in the previous year, the company earned $0.72 earnings per share. On average, equities research analysts expect that Advance Auto Parts, Inc. will post 3.72 EPS for the current fiscal year.

Advance Auto Parts Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend is Friday, July 12th. Advance Auto Parts’s payout ratio is 144.93%.

Insider Buying and Selling

In other news, Director Brent Windom purchased 4,700 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was purchased at an average cost of $85.34 per share, for a total transaction of $401,098.00. Following the completion of the transaction, the director now owns 10,000 shares of the company’s stock, valued at $853,400. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on AAP. Wedbush restated a “neutral” rating and set a $70.00 price target on shares of Advance Auto Parts in a research note on Friday, May 24th. Barclays upped their target price on Advance Auto Parts from $56.00 to $66.00 and gave the company an “equal weight” rating in a research report on Thursday, February 29th. StockNews.com upgraded Advance Auto Parts from a “sell” rating to a “hold” rating in a research report on Thursday, May 30th. Royal Bank of Canada dropped their target price on Advance Auto Parts from $68.00 to $65.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 30th. Finally, Truist Financial dropped their target price on Advance Auto Parts from $70.00 to $63.00 and set a “hold” rating on the stock in a research report on Thursday, May 30th. Two equities research analysts have rated the stock with a sell rating and sixteen have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $64.00.

Advance Auto Parts Profile

Advance Auto Parts, Inc provides automotive replacement parts, accessories, batteries, and maintenance items for domestic and imported cars, vans, sport utility vehicles, and light and heavy duty trucks. The company offers battery accessories; belts and hoses; brakes and brake pads; chassis and climate control parts; clutches and drive shafts; engines and engine parts; exhaust systems and parts; hub assemblies; ignition components and wires; radiators and cooling parts; starters and alternators; and steering and alignment parts.